Ten things to note in the October IIP

Electricity continued its renewal by registering a 5.5% uptick in production in October compared to 3.9% in September.

1) Industrial production rose 8.2% in October 2011 compared to the contraction of 0.72% (revised) in September, registering the highest jump in 2012. This beat Reuters poll estimate of 4.5%

2) Manufacturing rose 9.6% after a contraction of 1.5% in September this fiscal.

3) Mining disappointed after rising by 5.5% the preceding month to clock a 0.1% contraction in October 2012.

4) Electricity production rose 5.5% in October, building on the 3.9% rise in September.

5) Within manufacturing, the capital goods segment expanded 7.5% after a 12.2% contraction in September

6) Basic goods and intermediate goods rose by 4.15 and 9.4% respectively in October

7) Domestic demand seems to have picked up with production of consumer durables rising by 16.5% in October over last year compared to 1.7% fall in September this year, mainly due to festival demand uptick

8) Consumer non durables also showed robust growth at 10.1% with overall consumer goods rising by 13.2% in October

9) Statistical base effect also seems to have played a role in the large uptick in overall IIP. IIP was down5% in October 2011

10) The September figure was revised downwards to -0.73% from -0.4%. The July and August numbers were also further revised from -0.17% and 2.24% to -0.06% and 2.29% respectively.